Syria Signs Historic Offshore Energy Exploration Deal with US and Qatar
Syria's national petroleum company signed a landmark agreement with US's Chevron and Qatar's Power International for the country's first offshore oil and gas exploration. This deal marks a significant step towards revitalizing Syria's energy sector, which suffered major setbacks during its prolonged conflict, and aims to bolster foreign investments.
- Country:
- Syria
Syria's state-owned petroleum company has inked a landmark agreement with US energy giant Chevron and Qatar-based Power International Holding.
The deal, formalized in Damascus with US's special envoy to Syria, promises to develop Syria's inaugural offshore oil and gas field, marking a pivotal moment for the country's energy sector.
This memorandum of understanding signals Syria's intent to strengthen strategic energy partnerships, exploring and developing resources in its territorial waters post a long-standing conflict that ravaged the nation's oil output.
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